Home | About | Donate

'Pandemic Has Been Very Good for Insurance Companies': UnitedHealth Posts Largest Profit—By Far—Amid Covid-19

Originally published at http://www.commondreams.org/news/2020/07/15/pandemic-has-been-very-good-insurance-companies-unitedhealth-posts-largest-profit

How silly we must appear to our bosses and TPB.
We still think the pay we get at weeks end is our money. NO NO NO mon ami, they just let us look at it and maybe feel it, but then poof, it’s gone.

2 Likes

The three year rolling average protects the 6 billion dollars from ever being used for customers health care or premium refunds.

Heck, If UnitedHealth follows UnitedAir;ines, they will declare bankruptcy just to gain another 6 billion dollars by having payments to hospitals and clinics and physicians cancelled by a federal bankruptcy judge.

The guy in Youngstown, ohio already knows how to do this trick.

1 Like

I would suggest a good amount of those “record profits” came via Obamacare.

Defenders of the Democrats claim Obamacare allowed access to health care to millions of Americans. It was a insurance industry designed program to ensure that said access to health care filled the coffers of the insurance industry.

Biden wants to expand Obamacare meaning sending more tax dollars to Corporations like United health that do NOT have anything to do with Healthcare.

6 Likes

AARP endorses United Healthcare plans. I am sure AARP will endorse Biden as well. As I heard a person on the street say , “they all sit at the same table”.

5 Likes

What insurers insure above all are their profit margins

2 Likes

Your right about Obamacare, but there is another wrinkle for those of us on Medicare that UnitedHealth also profits from. Because Medicare only covers hospital care (Part A). Part B of Medicare is not covered so us Medicare recipients have to buy an insurance plan to cover perscriptions, lab work, xray, etc. I have the cheapest Medicare supplemental plan through UnitedHealth. With the premiums and copays they are making a bundle on me and other Medicare recipients.

This is why we need IMPROVED Medicare for All that includes prescriptions, dental, eye care, etc. NO copays and NO premiums period.

8 Likes

“Pandemic Has Been Very Good for Insurance Companies”

Exactly as Nancy and the dems wanted it.

3 Likes

“I would suggest a good amount of those “record profits” came via Obamacare.”

BINGO!!!

1 Like

"AARP endorses United Healthcare plans. I am sure AARP will endorse Biden as well. As I heard a person on the street say , “they all sit at the same table”.

AARP is an insurance company first and foremost. They consistently lobby to undermine Medicare. It is with the help of the AARP that we have the (dis)Advantage plans rather than full coverage Medicare as it was originally designed and implemented.

3 Likes

Not only do we pay a premium to private insurance cartels, we also pay a Medicare Premium, taken directly from social security. It amounts to a bit more than 10% of the SS payment.

5 Likes

" For over 40 years, UnitedHealthcare Global has served multinational organizations and their employees when traveling or on assignment away from their home country. We provide access to care in 130 countries through a broad network of pre-screened health care providers, hospitals and clinics."

1 Like

Yep, know all to well about Part B. Every time we get a COLA increase once in a while, 1% maybe, they take it all back by increasing the Part B deduction. And I wind up getting nothing more each month. This has been going on for 12 years. And I’m still getting less than $13,000 a year to live on after working all my life.

6 Likes

I’ve always preferred its original moniker, “Romneycare”. As cynical as I generally am even I was shocked that the Party leadership embraced such a blatant and crass giveaway to the insurance companies, and was sure that there would be a backlash among the rank and file. Nope, instead it was endorsed as being the greatest thing to happen since the New Deal by the Party Faithful, since their guy can do no wrong. That was the point where I gave up on the “Lesser Evil” party completely.

3 Likes

" Robber baron " is a derogatory metaphor of social criticism originally applied to certain late 19th-century American businessmen who were accused of using unscrupulous methods to get rich, or expand their wealth."

The robber barons are alive and well. Here yesterday, here today, here tomorrow.

2 Likes

I seem to recall Obama saying something about single payer having a seat at the table. Only he forgot to mention that the table already belonged to the the health insurance companies via Max Baucus, and the single payer chair was not only relegated to the back of the room, the single payer voices had been escorted out of the negotiations. And even that wasn’t good enough for republicans.